Nowadays, there are many financial entities that offer an online loan simulator, such as the one we have in CredText, through your website.
These tools offer to calculate the monthly installments that we will pay for our loan, just by entering the amount and duration. Indicating for example: I need 1000 euros or 300 euros.
In addition, in a personal loan simulator, it is usual to have to enter some type of personal information, such as what is our employment situation or if we are in a list of debtors such as financial credit institutions.
More and more financial entities, both traditional banks such as Bankiat or Populares bank, as simulators of loans from rural savings banks such as Unicaja. The simplicity of use in these online tools means that their use has been extended.
But not only in financing to individuals, but also to simulate business loans. In fact, even ESD, Credit Institute Oficial, has incorporated a credit simulator on its website.
But these totally free online tools have also been extended to other types of financing for individuals. As for example the calculation of monthly installments of car loans.
Not in vain this type of financing is very common, given that most of the buyers of vehicles have to resort to financing a good part of the price. Either with a car credit or by delivering your second hand vehicle as part of the price payment.
But where it is more common to find a loan simulator in Yoabank customer service and Eicredit, the most veteran of the personal loans sector, and which have been copied by the new fast loans financial.
Internet has become a basic channel to attract customers and get money urgently in a few minutes, thanks to the use of any type of personal loans comparator.
Learn how to use the credit simulator to save time
But although knowing how to use a loan simulator is very easy, the truth is that you have to take into account some things first of all. To start you have to be clear about some basic information, to start the amount of money you need. Because depending on that amount you will have more or less chance of getting the money, taking into account your monthly income. And above all, depending on the money loaned as well as the repayment period, the monthly capital payments plus interest will be more or less high. And in the end that will make it more or less easy to face the payment of them.
In addition, the most advanced online loan simulators, such as Eicredit, also offer what is the APR and the TIN of the loan that we are going to request. There are also other financial entities, such as the OutDirect bank, always at the forefront of innovation, which offers a very powerful online simulator.
What do the loan simulators conceal?
Most online simulators hide a secret, and that is that they do not include information about certain commissions or extra expenses like or for example linked products. These elements make the cost of credit much higher, and therefore it is important to take them into account in order to make a good decision when hiring an online credit.
However, in the online credit comparison of CredText, we include all the information and costs that you will have when paying your financing, whether you are private, self-employed, or company. So do not think about it, and start saving time and money.